Paper check payments
In Cashflow360, you can pay your vendors via electronic ePayment (ACH), or paper check. Here are the details of a paper check payment.
- The envelope and check issued to the vendor
- Payment for a single bill
- Combine payments
- Deposit checks
- Check expiration
- Copy of cashed check
- Things to know
The envelope and check issued to the vendor
Customize the payment memo/remittance info on the check by adding to or overwriting the pre-populated invoice number and vendor account number when you schedule payment.
- If paying multiple invoices to the same vendor with one payment, instead of invoice number, the memo field will be populated with Multiple Invoices
- Once saved, the memo field can't be edited. If you need to edit the memo field, cancel the payment and reschedule
- The memo field has a limit of 70 characters
- The payment memo field doesn't sync and will need to be manually updated in your accounting software.
Payment for a single bill
When making a check payment for a single bill, if a document is associated, we will include page 1 on the check stub of the check.
Tip: Add a blank page for Page one of the document associated if not needing an image printed on the stub.
When paying more than one bill with the same Process Date to the same vendor, choose to combine the bill payments in one check or to keep them as separate checks. A single combined check is usually more convenient, but there are times when it may be necessary to send separate checks, such as for a tax payment or for the simplicity of reconciling specific bills with a specific check number.
The vendor receives one check. The check stub lists the individual bill payments (see below - up to 35 allowed). There is a fee for one check.
- If multiple vendor credits are applied, up to three will be listed on the check stub. If more than three vendor credits are applied there will be a note that additional credits are applied after listing three.
The vendor receives separate checks. Each check stub shows the first page of the related bill (see above). There is a separate fee for each check.
Choose the preference to combine or separate checks for all vendors (Payables Preferences), an individual vendor (vendor page), or an individual payment (when you pay bills).
Checks issued by Cashflow360 can be deposited at your bank, like any other check. You can also use your bank's mobile deposit feature for a hassle-free deposit. Paper checks cannot be cashed, they must be deposited into a bank account.
Checks issued by Cashflow360 cannot be deposited using Electronic Check Conversion services. Transactions initiated by Check Conversion services will be rejected by our bank. However, in this case, the check will still be valid, and can still be deposited normally.
Checks are issued with the words Void after 90 days printed on them. On the 91st day after the date of issue, the check expires.
- When the check expires, the funds will automatically remit to the originating bank account
- All bank authorized users will receive an email notification that informs them a check has expired and voided
Copy of cashed check
After your vendor cashes their check, an image of the front and back of the check will appear on the Payment Details page.
- Select Payments out in the navigation menu
- Select the Confirmation Number of the payment
The check image is displayed in the check section of the payment summary screen.
Things to know
- Cashflow360 check numbers are sequenced across all Cashflow360 payments, rather than within a given account. As a result, your checks will not be cut in sequential order.
- Create a "Bill Payments" report that lists all bill payments, including check payments and check numbers, from the Reports tab. Any other review of Cashflow360 payments could be performed using the Cashflow360 Payments In page that lists a complete payment history.
- When check payments are made within Cashflow360, the checks are then cut on our Cashflow360 bank account, so the check numbers do not have to be matched to your bank account for reconciliation purposes.